Goldman Sachs Group Inc. Purchases 34,849 Shares of Live Oak Bancshares, Inc. $LOB

Key Points

• Goldman Sachs Group Inc. increased its stake in Live Oak Bancshares by 15.2%, owning approximately 0.58% of the company valued at $7,041,000 as of the latest SEC filing.
• Live Oak Bancshares announced a $0.03 dividend to be paid on September 15, with an ex-dividend date of September 2, yielding 32.0%.
• Analyst ratings for Live Oak Bancshares have been positive with a consensus rating of "Moderate Buy" and a price target of $43.75 following upgrades from Keefe, Bruyette & Woods.

Goldman Sachs Group Inc. raised its position in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) by 15.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 264,122 shares of the bank's stock after buying an additional 34,849 shares during the quarter. Goldman Sachs Group Inc. owned about 0.58% of Live Oak Bancshares worth $7,041,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in LOB. BNP Paribas Financial Markets grew its holdings in Live Oak Bancshares by 42.3% during the 4th quarter. BNP Paribas Financial Markets now owns 35,649 shares of the bank's stock valued at $1,410,000 after buying an additional 10,595 shares in the last quarter. Cetera Investment Advisers boosted its holdings in shares of Live Oak Bancshares by 29.4% in the 4th quarter. Cetera Investment Advisers now owns 15,620 shares of the bank's stock worth $618,000 after purchasing an additional 3,553 shares during the period. Deutsche Bank AG boosted its holdings in shares of Live Oak Bancshares by 15.0% in the 4th quarter. Deutsche Bank AG now owns 86,017 shares of the bank's stock worth $3,402,000 after purchasing an additional 11,248 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Live Oak Bancshares by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,714 shares of the bank's stock worth $780,000 after purchasing an additional 682 shares during the period. Finally, ProShare Advisors LLC boosted its holdings in shares of Live Oak Bancshares by 49.1% in the 4th quarter. ProShare Advisors LLC now owns 9,766 shares of the bank's stock worth $386,000 after purchasing an additional 3,214 shares during the period. Hedge funds and other institutional investors own 63.95% of the company's stock.

Live Oak Bancshares Stock Performance

NASDAQ LOB traded down $0.48 on Friday, reaching $36.77. 157,521 shares of the stock traded hands, compared to its average volume of 291,255. The company has a fifty day moving average price of $34.63 and a 200-day moving average price of $29.99. The company has a market cap of $1.68 billion, a price-to-earnings ratio of 25.35 and a beta of 1.75. Live Oak Bancshares, Inc. has a 12 month low of $22.68 and a 12 month high of $50.30.

Live Oak Bancshares Announces Dividend

The company also recently announced a sep 25 dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a yield of 32.0%. Live Oak Bancshares's payout ratio is 9.84%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on LOB. Keefe, Bruyette & Woods upgraded Live Oak Bancshares from a "market perform" rating to an "outperform" rating and lifted their target price for the stock from $37.00 to $43.00 in a report on Tuesday, August 19th. Cantor Fitzgerald began coverage on Live Oak Bancshares in a report on Wednesday, September 10th. They issued a "neutral" rating and a $42.00 target price for the company. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $43.75.

About Live Oak Bancshares

Live Oak Bancshares, Inc operates as the bank holding company for Live Oak Banking Company that provides various banking products and services in the United States. It operates through two segments, Banking and Fintech. The company accepts various deposit products, including noninterest-bearing demand, as well as interest-bearing checking, money market, savings, and time deposits.